Global pollution control system employing hybrid incentive trade instruments and related method of establishing market values

ABSTRACT

A computerized trading exchange (“CTE”) for trading hybrid incentive trade instruments (“HITIs”) having underlying value associated with diesel emission controls. The CTE may use a computerized storage device configured to store details selected from at least one of certificates, futures, options, forwards, swaps, and spreads associated with the buying and selling of the HITIs. The CTE may store at least one regulation of trading and may be configured to allow a plurality of participants to buy and sell the HITIs. The CTE may be configured to enable communications from buyers and sellers interested in executing orders relating to the HITIs or to the details concerning the HITIs, as well as from at least one party for the purpose of providing specifications concerning the HITIs to be stored by the CTE.

RELATED APPLICATIONS

The present application claims priority to U.S. provisional patentapplication Ser. No. 61/648,893, filed May 18, 2012. The presentapplication is also related to, and claims priority from, co-pendingU.S. application Ser. No. 13/782,313, “System For Market Hedging AndRelated Method”, filed Mar. 1, 2013, which claims priority from U.S.application Ser. No. 13,558,974, filed Jul. 26, 2012. The disclosures ofall of the above applications are hereby incorporated by reference intothe present application.

FIELD

The present teachings generally pertain to global pollution controlsystems, and more particularly to a global pollution control system thatemploys hybrid incentive trade instruments featuringexchange-established market values that may be traded on a globalelectronic exchange platform along with other financial instruments.

BACKGROUND

The statements in this section merely provide background informationrelated to the present disclosure and may not constitute prior art.

Selecting pollution control instruments is a crucial environmentalpolicy decision, as evidenced in attempts to forge sovereign and globalregulations pertaining to controls for greenhouse gas (“GHG”) emissions.However, in that case, debates among policy makers and critics havegrown contentious due to fundamental disputes in public, private andacademia sectors concerning the extent to which GHG (especially CO₂) areglobal warming (“GW”) forces causing CC (hereafter referred to as “GHGDisputes”).

Extraordinarily high technology costs and long abatement periodsexacerbate GHG Disputes. As a result, risks lurk that the United NationsKyoto Protocol could fold barring a major turn of events. Due in part tothose circumstances, a once-prominent GHG trading post (i.e., ChicagoClimate Exchange) recently shuttered following nearly a decade ofoperations after trading volume plummeted and “carbon credit” (genericterm for tradable certificates/permits holding the right to emit onemetric tonne of CO₂ or the mass of another GHG with a CO₂ equivalent toone metric tonne of CO₂) prices crashed 99% from their 2008 peaks.

In contrast, there are virtually no major disputes concerning benefitsthat can be realized by aggressively eliminating diesel PM. The marketappears ripe for a global pollution control system based on thecollection and eco-friendly recycling of captured agglomerated dieselsoot (“CADS”), e.g. in the manner disclosed by in U.S. Ser. No.61/531,126, assuming that financing mechanisms such as CADS Hybrids cangain traction over a suitable global market. U.S. application Ser. No.61/531,126 is incorporated by reference as if fully set forth herein.

In some respects, incentive trade instruments employed to help curb GHGemissions in OECD countries, such as emission reduction credit (“ERC”)and capped allowance trading (“Cap-and-Trade”) systems, serve astrailblazers for the approach adopted in formulating CADS Hybrids.However, there is at least one major distinction: reducing GHG emissionsin the OECD involves larger scale initiatives than those involved withabating the effects of super-emitters in countries compromised by needsto employ more affordably available but environmentally less desirablediesel fuels to power economic growth.

The former involves, inter alia, a myriad of extraordinarily costly andlong term campaigns comprised of complex technology transformations,fuel conservation, displacement and replacement schemes, and relatedprograms aimed as much at reducing reliance on fossil fuels as abatingpollution levels. In fact, some GHG Disputes have involved heateddebates as to whether CO₂ should be treated as a pollutant.

The latter involves critical shorter term missions focused on DECATtechnologies that are essentially already developed, are far less costlyand merely require mobilization of forces to expedite massimplementation on a global scale. In fact, many leading scientists warnthat time is of the essence to remove black carbon soot from theatmosphere; otherwise, tipping points could occur such that GHGreduction technologies on the drawing board may for all intents andpurposes be rendered futile.

In terms of formulating a global pollution control system employing CADSHybrids, pollution limits can in some cases be rate-based with no setlimits on the maximum allowable level of pollution within the regulatedarea. Instead, pollution limits cannot exceed a specified rate ofemissions (e.g., grams per mile or km for mobile vehicles; pounds or kgper MMBtu for power generators and stationary applications). Polluterscan earn credits by employing qualified diesel emission controlafter-treatment (“DECAT”) systems designed to verifiably reduceemissions below specified rates. Having no cap on total emissions isappealing to policymakers in developing countries where anticipatedeconomic growth is likely to occur alongside a corresponding increase inthe number of individual polluters.

Alternatively, CADS Hybrid Cap-and-Trade systems can be formulated in amanner whereby allowable caps on total emissions are set, with a capequal to the total number of allowances (permits) allocated to a groupof polluters. Group allowances are then distributed among individualpolluters. The number of allowances held by each polluter sets limits onlevels they are entitled to emit. Allowances can be auctioned, withentities competing to purchase rights. Alternatively, they can be doledout as part of a government program. In any event, once all allowancesare placed with rights holders, those entities must either reduceemissions directly or purchase allowances from other rights holders whoachieve reductions below the required level.

Although not incorporated directly into the value of CADS Hybrids, othergovernment policy tools are potentially useful as adjuncts to CADSHybrid systems, such as: emissions taxes, fees and charges; subsidies;combining pollution standards with pricing approaches; and liabilityassignments.

Grants from sovereign and/or global regulatory bodies, as well as loansfrom entities dealing in concert with such bodies, can also playintegral roles in the success of CADS Hybrid systems formulated.

All things considered, the timing is ripe for a new system that willhelp developing countries, as well as developed countries, proactivelyremediate local and global health, environmental and CC problems causedby diesel PM.

SUMMARY

In one aspect the present disclosure relates to a pollution controlsystem comprising a computerized trading exchange for trading hybridincentive trade instruments. The hybrid trade instruments haveunderlying value associated with diesel emission controls. Thecomputerized trading exchange may include a computerized storage deviceconfigured to store details selected from at least one of certificates,futures, options, forwards, swaps, and spreads associated with thebuying and selling of the hybrid incentive trade instruments. Acomputerized trading exchange may be included for defining at least oneregulation of trading and configured to allow a plurality ofparticipants to buy and sell the hybrid incentive trade instruments. Thecomputerized trading exchange may further be configured to enablecommunications from at least one party that enables details relating tothe hybrid trade incentive agreements to be provided to the computerizedstorage device, and from at least one seller that enables an interest tosell a hybrid incentive trade instrument to be presented to thecomputerized trading exchange, and from at least one buyer that enablesa purchase interest in a hybrid incentive trade instrument to bepresented to the computerized trading exchange.

In another aspect the present disclosure relates to a pollution controlsystem comprising a computerized trading exchange for trading hybridincentive trade instruments. The computerized trading exchange mayinclude a computerized storage device configured to store detailsselected from a group consisting of certificates, futures, options,forwards, swaps, and spreads associated with the buying and selling ofhybrid incentive trade instrument with underlying value attributed to atleast one of:

health and environmental benefits derived from attendant diesel emissioncontrol systems that eliminate particulate matter (“PM”) and pollutantsfrom diesel exhaust; and

by-products generated by recycling captured agglomerated diesel soot(“CADS”) collected from said systems. The computerized trading exchangemay also include a storage for storing at least one regulation oftrading and configured to allow a plurality of participants to buy andsell the hybrid incentive trade instruments. The plurality ofparticipants may include globally scattered communities of interest. Theplurality of participants may also include at least one party forproviding the details to the computerized storage device, at least oneseller having an interest to sell in a hybrid incentive tradeinstrument, and at least one buyer desiring to purchase an interest in ahybrid incentive trade instrument. The computerized trading exchange mayprovide a transparent, electronic data exchange platform operative toauthorize, transmit, receive, match, confirm, report, clear, settle buyand sell orders for the interest in the hybrid incentive tradeinstrument.

BRIEF DESCRIPTION OF DRAWINGS

The drawings described herein are for illustration purposes only and arenot intended to limit the scope of the present disclosure in any way. Inthe drawings:

FIG. 1 is a high level flow chart-like diagram of various subsystemsthat may be used to form a global pollution control system in accordancewith the present disclosure; and

FIG. 2 is a block diagram illustrating various components and theirinterrelationships for implementing the system of FIG. 1.

DETAILED DESCRIPTION

The present disclosure relates to a global pollution control system thatemploys hybrid incentive trade instruments featuringexchange-established market values that may be traded on a globalelectronic exchange platform along with other financial instruments. Thesystem's underlying intrinsic benefits are at least two fold: (i)elimination of particulate matter (“PM”) and other pollutants fromdiesel exhaust, and (ii) by-products generated by recycling capturedagglomerated diesel soot (“CADS”) collected from attendant dieselemission control after-treatment (“DECAT”) systems. The financialinstruments used to achieve the foregoing may hereafter be referred toas “CADS Hybrid(s).” The present teachings also generally pertain to amethod of establishing CADS Hybrid market values, comprised of a globalelectronic exchange platform that, inter alia, trades CADS Hybridcertificates, as well as related indexes, futures, options, forwards,swaps, spreads and other derivatives.

Hybrid systems are financing mechanisms aimed at facilitating aggressiveDECAT retrofit initiatives in developing countries so their remediationbenefits can take hold globally. CADS Hybrids are designed for tradingover a global exchange to establish market values that are commensuratewith the underlying system's intrinsic co-benefits. Such benefitsinclude, without limitation, (i) valuable CADS recycling by-products,and (ii) economic gains realized by eliminating diesel PM (also known asblack carbon soot) and other pollutants for health, environmental andclimate change (“CC”) reasons, as explained more fully below.

In summary then, the present global pollution control system enjoins theforces of, inter alia, CADS Hybrids, adjunct government policy tools,grants from sovereign and/or global regulatory bodies, and loans fromentities dealing in concert with the bodies. Together, those forcescomprise an effective mechanism integral to the process of financingaggressive DECAT retrofit initiatives in developing countries so theirPM remediation effects can take hold globally.

Providing the ability to discover and hedge the market value of CADSHybrids taking the form of tradable certificates, as well as relatedindexes, futures, options, forwards, swaps, spreads and otherderivatives, is an important embodiment integral to the successfulestablishment and ongoing viability of a CADS Hybrids system. As aresult, the present teachings generally pertain to an Exchange where themarket price discovery and hedging functions take place over acomputerized trading exchange that, inter alia, matches, executes,clears and settles buy and sell orders placed by member and non-membercommercials and speculators. The computerized trading exchange may becomprised of globally scattered communities of interest (“COI”)operating over a web-based Cloud network in generally the same manner asa method for energy market hedging taught by this Inventor in U.S.application Ser. No. 61/513,792, as explained more fully below. U.S.application Ser. No. 61/513,792 is incorporated by reference as if fullyset forth herein.

An important feature of present disclosure which is aimed ataccomplishing those goals is CADS. Prior to framing the many benefits ofthis driver, it is instructive to understand CADS genesis within thecontext of diesel engine exhaust, as well as the nature of CADScollected from DECAT Systems and ultimately recycled via eco-friendlythermo-chemical conversion (“TCC”) processes such as pyrolysis and/orgasification.

When exiting the engine manifold, raw exhaust gases contain a variety ofelements (some noxious), that, together, form diesel PM. Those elementstraditionally fall into 3 main fractions: solid fraction, solubleorganic fraction (“SOF”) and sulfate particulates (“SP”). Solid fractionis comprised primarily of elemental (black) carbon, the substance mostresponsible for visibly offensive smoke emissions, as well as non-carbonash formed by combustion chamber burning of additives contained inlubricating oil and metal oxide impurities caused by engine wear.

Soluble organic fraction is comprised of hydrocarbons (“HC”), often innuclei mode, adsorbed onto the surface of black carbon particles orotherwise present as fine droplets. SOF dwell in exhaust gases aslubricating oil-derived HC, higher boiling-end diesel fuel HC andpolycyclic aromatic HC (“PAH”) with multiple benzene rings joined incluster forms that are mutagenic and, in some cases, so carcinogenicthat they attract serious attention from governmental bodies responsiblefor the oversight of toxic air regulations.

Sulfate particulates (“SP”) are comprised mostly of hydrated sulfuricacid. SP often take a liquid form and dwell in exhaust gases as nucleimode particles. SP formation depends on vapor pressures, as well as suchfactors as fuel sulfur level, conversion of fuel sulfur to SO₃, air/fuelratio, temperature and relative humidity.

When DECAT systems taught by U.S. application Ser. No. 61/531,126(“Attendant DECAT Systems”) are installed, PM-laden exhaust gases passthrough one or more cooling embodiments prior to entering the system'spivotal diesel particulate converter (“DPC”). Exhaust cooling enhancescondensation of heavy and frequently toxic volatile organic compounds(“VOCs”) in PM into nano-size particles that are captured at highfrequencies and eliminated before exhaust leaves the tailpipe.

Adsorption of cooled condensed nuclei mode ultrafine and nano-particlesonto larger (black carbon) PM species is optimized as all tend to bondwhile migrating through the DPC's agglomerative wire mesh filters priorto soot capture and collection. As a result, exhaust (VOC) toxicity getseliminated while CADS feedstock is effectively being produced for TCCprocess recycling.

Absent Attendant DECAT System remediation, VOCs and other harmfulelements of PM escape freely into the atmosphere. Once inhaled, toxicultrafine and nano-particles may penetrate deeply into lung tissues,where they pose serious health threats. Globally, hundreds of thousandsof PM toxicity-related excess deaths occur annually. An even greaternumber of hospital admissions for cardiovascular, respiratory andcentral nervous system disorders are estimated to cost hundreds ofbillions of dollars on an annual basis.

Aside from the serious health hazards posed by raw diesel emissions,considerable attention is paid to the adverse environmental effects ofblack carbon soot, in particular within the context of their role as GWforces causing CC. Black carbon soot is widely recognized as a potent GWcoefficient with local and regional impacts, especially in developingcountries and icy/snowy regions. This is due to the fact that, whiledrifting in the atmosphere or falling/settling on the ground, blackcarbon soot efficiently absorbs sunlight, warms up and radiates heat.Soot accumulating on ice and snow (especially in crucial Arctic andHimalayan regions) reduces albedo (i.e., the ability to reflect light),causing a local melt that reduces reflectivity even further. The resultis a positive feedback loop of warming.

Global organizations have lately focused their attention on black carbonsoot in light of published research findings by aerosol scientists andclimate experts citing its elimination as the most expedient meanscapable of reversing CC caused by GW forces in the short term. This isdue to the fact that the atmospheric life span of black carbon soot isonly a few weeks versus many decades for CO₂ and other GHG. A consensusappears to be forming that expedited short-term initiatives to reduceblack carbon soot emissions should be undertaken in developingcountries, not just for health reasons but to buy vital extra timeneeded for longer-term GHG mitigation measures, viewed more as the primeresponsibility of developed (OECD) countries. Such is the goal of theglobal pollution control system of the present teachings.

However, complexities with the multifaceted aspects of black carbon sootin diesel exhaust cause a dilemma. As it turns out, such PM typicallyprovides not only potent GW forces (in the form of elemental blackcarbon) but substantial offsetting cooling forces (in the form ofsulfates).

A convincing body of scientific research vouches for the vital rolesulfates played as the most effective cooling agents known to offset GWforces and resultant CC in the past few decades. In particular, benefitsin Northern Hemisphere regions are attributed to cooling effects ofSO2/SOx emitting OGVs passing between Asian and U.S. ports. Similarlycrucial impacts were felt in Himalayan glacier areas serving as waterreservoirs for over one-sixth of the Earth's population.

DECAT+Recycling Solutions disclosed in U.S. application Ser. No.61/531,126 are designed not only to eliminate PM, thus providingconsiderable health benefits, but to, inter alia, solve the dilemmacaused by black carbon soot's dual/offsetting CC forces, especially incases involving OGVs. This is achieved by serving up the only known“double whammy” punch aimed at expediting the reversal of CC, comprisedof: (i) agglomerating and capturing black carbon soot in DPCs, thuspreventing their release into the atmosphere, where they would providepotent GW forces and (ii) selectively allowing SO2/SOx gases to passthrough the DPC, into the atmosphere, so they can provide substantialcooling forces offsetting the effects of GHG and other GW forcesresiding there.

Multi-faceted benefits created by aforementioned DECAT+RecyclingSolutions, which in effect yield the intrinsic value of CADS Hybrids,include but are not limited to the following:

Health benefits derived by eliminating PM (VOC) toxicity, which areachieved by exhaust cooling and DPC agglomeration, as well aseco-friendly methods of recycling via TCC processing.

Environmental benefits derived by preventing black carbon soot fromentering the atmosphere or falling to the ground where their chemicalmakeup and toxicity can damage humans, animals, plants, bodies of water,etc., achieved by collecting and employing CADS as recycling feedstock.

Climate change benefits derived by preventing black carbon soot fromproviding potent GW force either in the atmosphere or after falling ontosnow/ice, whilst selectively allowing SO₂/SOx to pass through the DPCand assume beneficial roles as substantial cooling forces in theatmosphere, thus offsetting the effects of GHG and other GW forces.

CADS Recycling values, which are generated after TCC processes(pyrolysis and/or gasification) decompose CADS, inter alia, into thefollowing byproducts:

Char, Carbon Black (CB) or CB Feedstock, Sulfur and Sulfuric Acid, whichare salable as commodities.

Fullerenes, which are precursors for the synthesis of single walledcarbon nanotubes.

Non-carbon ash, which is used as construction aggregate.

Oils and vapors, which are cooled and condensed into liquid fuels thatare burnable directly in boilers and internal combustion engines or canbe refined for higher quality uses such as motor oils, chemicals andadhesives.

Gases, which can be burned in a boiler for heat or in an internalcombustion engine for electricity generation or combined heat and power,including recirculatable heat and power integral to the TCC processemployed, as well as gases that can be scrubbed to remove impurities andconverted via Fischer-Tropsch synthesis, hydrotreating, hydrocracking,Claus or other conversion processes into cleaner grades of reusablefuels and chemicals.

Although not imputed directly into the value of CADS Hybrids,supplemental benefits will accrue to countries adopting the solutionstaught herein, reflecting the favorable economic impact of new jobcreation attributed to the following:

Assembling Attendant DECAT System components, in particular the system'spivotal DPCs.

Installing Attendant DECAT Systems onto land based (trucks, buses,construction and mining equipment, power generators, etc.) and marineapplications, in particular OGVs with economies of scale sufficient toaccommodate integrated onboard DECAT+Recycling.

Ongoing CADS collection from above applications, which are transportedto recycling facilities.

CADS Recycling into valuable by-products at dedicated (in this case,newly constructed) TCC processing facilities or contracted sitesestablished with compatible infrastructure. It should be noted that TCCprocessing is a globally emerging industry with promising long-termprospects, especially in the case of waste-to-energy applications. Thechemical composition and kinetic properties of CADS provide synergy forTCC co-processing with other feed stocks.

Administrative, technical and clerical positions ancillary toestablishing and maintaining all functions noted above, including butnot limited to those at government bodies in charge.

Due to the nascent state of pollution control system development in mostcountries outside the OECD, few if any developing countries are able topursue purely market based or command and control environmentalpolicies. Instead of positing micro solutions favoring one environmentalpolicy type or the other on a state-by-state basis, the presentdisclosure calls for a global system, employing a hybrid approach, whichmay appeal to many, if not all, countries in need of expediency andeconomies of scale. An overall diagram shown in FIG. 1 illustrates adiagram of one embodiment of a system 10 of the present disclosure thatillustrates the factors and components that go into creating CADS hybridtrade instruments 12, as well as how a coordinating financing mechanism14 may be used to receive the net proceeds from CADS hybrid instruments12, as well as to receive the benefits derived from other financialinstruments and policy tools. The coordinating financing mechanism 14may take the form of a computerized device running suitable softwarethat implements a set of procedures that may be followed by one or moreindividuals, or by one or more organizations representing individuals,countries, groups of countries, or other consortiums. The coordinatingfinancing mechanism 14 may be used to generate and disburse funds forvarious purposes and/or operations, which will be discussed in greaterdetail in the following paragraphs. A global computerized tradingexchange 16 may be used to receive and administer CADS hybrid incentivetrade instruments and to process same (i.e., settle, trade, etc.) beforetransmitting net proceeds from their sale to other entities orindividuals that are in communication with the global computerizedtrading exchange 16, including the coordinating funding mechanism 14.Such a hybrid approach is centered round the multi-faceted benefits ofcollecting and recycling CADS, combined with the flexibility toselectively employ such market based and command and control policies asthose noted earlier herein.

With regard to the method of establishing CADS Hybrids market prices,the present teachings call for a computerized global trading exchange tobe placed in charge of the following functions, in much the same way asthis inventor's teachings per the System for Market Hedging and RelatedMethod contained in U.S. application Ser. No. 13,558,974:

Specifying tradable certificates, as well as indexes, futures, options,forwards, swaps, spreads and other derivatives associated with thebuying, selling and delivery of CADS Hybrids.

Listing certificates, indexes, futures, options, forwards, swaps,spreads and other derivatives that are extended to COI including but notlimited to the following: members of the computerized globalcomputerized trading exchange (clearing and non-clearing), commissionedmerchants, introducing brokers, trading counter-parties in the form ofcommercials and speculators (also known as exchange customers),clearinghouses and reporting services, all of which are geographicallyscattered throughout the world.

Providing a transparent global computerized trading exchange able toauthorize, transmit, receive, match, confirm, report, clear, settle andotherwise execute buy and sell orders for all listed certificates,indexes, futures, options, forwards, swaps, spreads and otherderivatives with the capability of originating said orders virtuallyanywhere in the world over a secure web-based Cloud network.

Establishing all global computerized trading exchange policies and rulesand overseeing the compliance therewith.

Arranging for all trades to be cleared and settled by qualifiedclearinghouses.

Obtaining all requisite licenses and other approvals granted byapplicable government regulatory bodies.

Implementing all operating and reporting systems and processes conduciveto the overall conduct of Exchange business.

The global computerized trading exchange customers noted above mayinclude sovereign and global regulatory bodies placed in charge ofmaintaining pollution control systems in their respective country,region or sphere, as well as emissions banks qualified for trading bythe regulatory bodies and the global computerized trading exchange.

Tradable certificates may be designed, in part, to provide holders withcertain carbon credit rights. The carbon credit rights may be tied tothe underlying mass of CADS expressed in terms of their equivalence toone tonne of CO2, rights which can be traded as part of a mutual listingagreement with one or more of the so-called “green exchanges.” The“green” exchanges may include, without limitation, the Green Exchange(“GreenX”) located in New York and London.

The favorable economic impacts of adopting solutions such as AttendantDECAT and CADS Hybrid systems exceed those associated with DECATsolutions being exploited in the OECD. For starters, the aggregate costsof OECD-genre DECAT systems and complementary ultra-low-sulfur diesel(“ULSD”) fuel campaigns dwarf the costs of Attendant DECAT Systemscapable of tolerating ULSD, as well as diesel fuels with high (500+ppm)sulfur content. Thus, OECD-genre DECAT Systems are for all intents andpurposes prohibitively expensive for developing countries. Further, anycomprehensive analysis of OECD-genre DECAT Systems reveals inordinatelyhigh costs concentrated in platinum coated catalysts and filters andcomplex active components needed for diesel particulate filter“regeneration.” Diesel particulate filter regeneration is also known as“soot burning.” Published research findings posit soot burning as beingresponsible for increases in the emission of CO2, as well as harmfulultrafine PM. Accordingly, OECD-genre DECAT Systems cannot be said toprovide “uplifting” labor and other costs related to engaging anadopting country's underutilized work force. Lastly, since OECD-spawnedDECAT Systems produce no CADS, they are unable to generate any recyclingor other ancillary economic benefits such as those noted earlier inconnection with the presently disclosed global pollution control system.

Referring to FIG. 2, in accordance with another particular aspect of thepresent disclosure, a global pollution control system 100 is shown. Thesystem 100 includes a global computerized trading exchange 112 fortrading hybrid incentive trade instruments. The computerized tradingexchange 112 may include a computerized storage system 114 configured tostore details selected from a group of financial instruments. Theinstruments may consist of, without limitation, certificates 116,futures 118, options 120, forwards 122, swaps 124, and spreads 126associated with the buying and selling of a hybrid incentive tradeinstrument with underlying value. The underlying value may be attributedto (i) health and environmental benefits derived from attendant dieselemission control systems that eliminate particulate matter (“PM”) andother pollutants from diesel exhaust, and (ii) by-products generated byrecycling captured agglomerated diesel soot (“CADS”) collected from thesystems. The global computerized trading exchange 112 may include aprocessor 128 a and a memory 128 b. The memory 128 b may form amechanism that contains at least one trading regulation 130 and may beconfigured to allow a plurality of participants to buy and/or sell anyone or more of the hybrid incentive trade instruments 116-126. Theplurality of participants may represent globally scattered communitiesof interest or individuals. The plurality of participants include: (i) acomputerized device associated with at least one party/entity 132 forproviding details to the computerized storage system 114 as it relatesto inter alia the specifications of the CADS Hybrid incentive tradeinstruments, as well as related futures, options, forwards, swaps andspreads. The computerized device of the at least one party/entity 132may also provide details regarding any attendant formulas or algorithmsbased on underlying emissions tests and aerosol scientist studies thatmay be of assistance in estimating the value of recycling byproducts andemissions control benefits, including the CO₂ equivalent GWP that may bemutually listed for trading at a qualifying “green exchange”.

FIG. 2 also depicts a computerized device of at least one seller 134having an interest to sell in a hybrid incentive trade instrument, and(iii) a computerized device of at least one buyer 136 desiring topurchase an interest in a hybrid incentive trade instrument. Thecomputerized device of the party/entity 132 may use a dongle 132 a thatconnects to the computerized device (e.g., server, laptop, desktop,tablet, etc.). The dongle 132 a may be made according to exchange 112specifications and supplied to a COI as a serialized USB thumb drives ora stick device connectable to independently employed servers or othercomputing devices. The dongle 132 a may use a PIN to reboot itsassociated computing device (i.e., desktop, laptop, server, tablet,etc.) into an Exchange Cloud-enabled operating environment, or be anintegral component of a computer associated with a proprietary datainterchange terminal 113 employed by the Exchange 112. Similarly, thecomputerized device of the seller of CADS hybrid incentive tradeinstruments 134 may make use of a dongle 134 a; the computer associatedwith the proprietary data interchange terminal 113 may make use of adongle 113 a; and the computerized device associated with the buyer ofCADS hybrid incentive trade instruments 136 may make use of a dongle 136a. Dongles 113 a, 134 a and 136 a may be identical in structure to thedongle 132 a discussed above. Alternatively or additionally, authorizedexchange software downloads taking place at authenticated serverhardware over the exchange's Cloud network may be used to facilitatetransformational data protection described above.

The global computerized trading exchange 112 provides a transparent,electronic data exchange platform which operates to authorize, transmit,receive, match, confirm, report, clear, settle and otherwise execute buyand sell orders for the interest (i.e., seller 134 or buyer 136) in thehybrid incentive trade instrument. Each party may provide details neededor desired for the specific transaction seeking to be made, and eachseller and each buyer each may have a data storage hardware device. Thedata storage device may include software operative to facilitatetransformational data protection via encryption. The plurality ofparticipants may also operate over a web-based Cloud network.

While specific examples have been described in the specification andillustrated in the drawings, it will be understood by those skilled inthe art that various changes may be made and equivalence may besubstituted for elements thereof without departing from the scope of thepresent teachings as defined in the claims. Furthermore, manymodifications may be made to adopt a particular situation or material tothe present teachings without departing from the essential scopethereof. Therefore, it may be intended that the present teachings not belimited to the particular examples illustrated by the drawings anddescribed in the specification as the best mode or presentlycontemplated for carrying out the present teachings.

The foregoing description of the embodiments has been provided forpurposes of illustration and description. It is not intended to beexhaustive or to limit the disclosure. Individual elements or featuresof a particular embodiment are generally not limited to that particularembodiment, but, where applicable, are interchangeable and can be usedin a selected embodiment, even if not specifically shown or described.The same may also be varied in many ways. Such variations are not to beregarded as a departure from the disclosure, and all such modificationsare intended to be included within the scope of the disclosure.

1. A global pollution control system for self-funding the installationand operation of attendant diesel emission control after-treatment(“DECAT”) and recycling systems predicated on collecting capturedagglomerated diesel soot “(CADS”) convertible into valuable by-products,thereby generating realizable health, environmental, recycling and othereconomic benefits integral to self-funding, the system comprising: aplurality of DECAT systems retrofit onto stationary and mobile dieselengine super-emitters of particulate matter (“PM”) and pollutants acrossa plurality of geographic borders separating both developed countriesand a developing countries, and wherein the DECAT filters are used byeach said country to agglomerate PM into larger and heavier soot that isseparable from exhaust streams, thereby generating CADS that can becollected for recycling; thermochemical conversion reactors employingcollected CADS as feedstock for pyrolysis and/or gasification recyclingprocesses, the by-products of which are comprised of valuable solids,liquid fuels and gases that can be reclaimed, separated, extracted andsold for internal and external commercial use; and a computerizedtrading exchange for trading hybrid incentive trade instruments havingunderlying value associated with the DECAT and recycling systems, thecomputerized trading exchange including: a computerized storage deviceconfigured to store details selected from at least one of certificates,futures, options, forwards, swaps, and spreads associated with thebuying and selling of the hybrid incentive trade instruments; thecomputerized trading exchange further being configured to: store aregulation of trading in a memory; communicate with computerized devicesto enable a plurality of participants to buy and sell the hybridincentive trade instruments; electronically store details relating tothe specifications and compilation of hybrid trade incentive instrumentswhich are provided to the computerized storage device; communicate withan electronic device of at least one seller to enable an interest tosell a hybrid incentive trade instrument to be presented to andprocessed by the computerized trading exchange; and communicate with anelectronic device of at least one buyer to enable a purchase interest ina hybrid incentive trade instrument to be presented to the computerizedtrading exchange-.
 2. The system of claim 1, wherein the at least one ofcertificates, options, futures, forwards, swaps and spreads compriseunderlying value attributed to: health and environmental benefitsderived from attendant DECAT systems that eliminate particulate matter(“PM”) and pollutants from diesel exhaust; and by-products generated byrecycling captured CADS collected from said systems.
 3. The system ofclaim 1, wherein the computerized trading exchange is configured toperform at least two operations including authorizing, transmitting,receiving, matching, confirming, reporting, clearing, settling buy andsell orders for the interest in the hybrid incentive trade instrumentfrom two parties using the computerized trading exchange.
 4. A pollutioncontrol system comprising: a computerized trading exchange for tradinghybrid incentive trade instruments, the computerized trading exchangeincluding: a computerized storage system configured to store detailsselected from a group including at least two of: certificates, futures,options, forwards, swaps, and spreads associated with the buying andselling of hybrid incentive trade instrument with underlying valueattributed to at least one of: health and environmental benefits derivedfrom attendant DECAT systems that eliminate PM and pollutants fromdiesel exhaust; and by-products generated by recycling CADS collectedfrom said systems; and the computerized storage system further beingconfigured to store at least one regulation of trading and configured tocommunicate with electronic devices of a plurality of participants tobuy and sell the hybrid incentive trade instruments via electroniccommunications with the computerized trading exchange, the plurality ofparticipants including globally scattered communities of interest, theplurality of participants including: at least one party for providingthe details related to the specifications and compilation of hybridincentive trade instruments provided to the computerized storage device;at least one seller desiring to sell an interest in a hybrid incentivetrade instrument; and at least one buyer desiring to purchase aninterest in a hybrid incentive trade instrument; wherein thecomputerized trading exchange provides a transparent, electronic dataexchange platform operative to authorize, transmit, receive, match,confirm, report, clear, settle buy and sell orders for the interest inthe hybrid incentive trade instrument.
 5. The computerized tradingexchange for hybrid incentive trade instruments of claim 4, wherein theat least one party for providing the details, the at least one sellerand the at least one buyer each have a data storage hardware deviceincluding software operative to facilitate transformational dataprotection via encryption.
 6. The computerized trading exchange of claim5, wherein the plurality of participants operate over a web-based Cloudnetwork.
 7. A method for implementing a global pollution control systemusing a computerized trading exchange, the computerized trading exchangeemploying hybrid incentive trade instruments (“CADS Hybrid(s)”)featuring Exchange-established market values attributed to eliminationof PM and other pollutants from exhaust of diesel engines and (ii)by-products generated by recycling CADS collected from Attendant DECATsystems, the global pollution control system being in communication withgeographically remote communities of interest (COI), the methodcomprising: electronically receiving, using the computerized tradingexchange, at least one of specified certificates, indexes, futures,options, forwards, swaps, spreads and derivatives associated withbuying, selling, delivery and settling of CADS Hybrids; listing saidcertificates, indexes, futures, options, forwards, swaps, spreads andother derivatives that are extended to COI, wherein the COI include atleast one of: members of the Exchange; commissioned merchants;introducing brokers; trading counterparties in the form of commercialsand speculators; clearinghouses; and reporting services, configuring thecomputerized trading exchange to at least one of authorize, transmit,receive, match, confirm, report, clear, settle and execute buy and sellorders for at least one of said specified certificates, indexes,futures, options, forwards, swaps, spreads and derivatives, wherein saidorders originate and are electronically transmitted from geographicallyremote locations over a secure network; using the computerized tradingexchange to: store policies and rules and monitor compliance therewith;arrange for trades to be cleared and settled by at least oneclearinghouse; obtain requisite licenses and approvals granted byapplicable government regulatory bodies; and implement operating andreporting systems to facilitate conducting business over thecomputerized trading exchange.
 8. The method of claim 7, wherein thecertificates, indexes, futures, options, forwards, swaps, spreads andother derivatives are directly or indirectly linked to a market value ofCADS' intrinsic co-benefits, comprised of the following: health benefitsderived by eliminating PM (VOC) toxicity, which are achieved by exhaustcooling and DPC agglomeration, as well as eco-friendly methods ofrecycling via TCC processing; environmental benefits derived bypreventing black carbon soot from entering the atmosphere or falling tothe ground where a chemical makeup and toxicity thereof damages at leastone of humans, animals, plants, and bodies of water which are achievedby collecting and employing CADS as recycling feedstock; climate changebenefits derived by preventing black carbon soot from providing potentGW forces either in the atmosphere or after falling onto snow/ice,whilst selectively allowing SO₂/SOx to pass through the DPC and assume abeneficial role as substantial cooling forces in the atmosphere, so asto offset the effects of GHG and other GW forces residing there; CADSrecycling values, which are realized after TCC processes (pyrolysisand/or gasification) decompose CADS, inter alia, into the followingbyproducts: char, carbon black (CB) or CB feedstock, sulfur and sulfuricacid, which are salable as commodities; fullerenes, which are precursorsfor the synthesis of single walled carbon nanotubes; non-carbon ash,which is used as construction aggregate; oils and vapors, which arecooled and condensed into liquid fuels that are burnable directly inboilers and internal combustion engines or refineable for higher qualityuses such as motor oils, chemicals and adhesives; and gases, which areable to be burned in a boiler for heat or in an internal combustionengine for electricity generation or combined heat and power, includingrecirculatable heat and power integral to the TCC process employed, aswell as gases that are able to be scrubbed to remove impurities andconverted via Fischer-Tropsch synthesis, hydrotreating, hydrocracking,Claus or other conversion processes into cleaner grades of reusablefuels and chemicals.
 9. The method of claim 7, wherein the computerizedtrading exchange is configured to communicate with: a front-endpopulated by the COI with at least one front end server acting as aflexible portion of the web-based Cloud network; a proprietary datastorage hardware device in the form of a dongle which is loaded withsoftware needed to facilitate transformational data protection viaencryption that bit-splits data from multiple slices or shares and addsauthentication and fault tolerant information as data moves through theweb-based Cloud network, enabling COI to share the same networkinfrastructure while restricting non-authorized COIs or a population atlarge accessing data that is not intended to be available, therebyproviding controls over what specific data can be accessed at any giventime, where data is stored and who manages various storage needs andserver networks; and storage networks which are multi-faceted andscalable to sufficiently accommodate one or more facilities dedicatedsolely to implementing the computerized trading exchange, and atqualified remote shared Cloud data resource centers independentlycontracted by the computerized trading exchange.
 10. The method of claim9, wherein the front-end server is configured in accordance with atleast one of: COI users' independently employed personal computers,tablets, smart phones, and data interchange terminals tied to othertrading systems subject to requirements that they are compatible withthe computerized trading exchange provided software applications andinterconnected with at least one of: a dongle configured to communicatewith the computerized trading exchange; or proprietary data interchangeterminals made to predetermined specifications and containing therequisite software applications and a requisite dongle; or adownloadable software component configured to run on a computing deviceand to enable communications with the computerized trading exchange. 11.The method of claim 9, wherein the front-end server is employed toperform the following functions: receive a notification from thecomputerized trading exchange regarding the user's authorized status aswell as all software applications and updates; confirm a relationshipwith entitled intermediaries, including the terms and conditionsassociated with commissions and fees (“C&F”) margin guarantees; transmittrade orders to the computerized trading exchange in the form of bidsand offers that, denote the following: type of contract or agreementincluding certificates, indexes, futures, options, forwards, swaps orspreads, as well pertinent expiration and delivery dates; type offinancial settlement or physical delivery; delivery point; and bid oroffer price and volume in terms of number of contracts, each of which isdenominated in the mass weight of the underlying commodity; and receivenotifications from the computerized trading exchange regarding at leastone confirmed and executed trade, money payable or receivable inconnection with open trades, settled trades and entitled intermediaries'C&F.
 12. The method of claim 10, wherein the dongle is made according tospecifications set by the computerized trading exchange and supplied toCOI either as at least one of serialized USB thumb drives or stickdevices connectable to independently employed servers; and wherein thedongle uses a PIN to reboot the server into a computerized tradingexchange Cloud-enabled operating environment, or as an integralcomponent of the computerized trading exchange's proprietary datainterchange terminal.
 13. The method of claim 9, wherein the host serveris employed to perform the following functions: notify all virtualfront-end servers of their authorized COI status, as well as allcomputerized trading exchange and clearinghouse policies, rules, andupdates concerning at least a plurality of computerized trading exchangetraded certificates, indexes, futures, options, forwards, swaps,spreads, position limits and margin requirements; distribute allsoftware applications and updates provided by the computerized tradingexchange to authorized COI virtual servers; receive all authenticatedcustomer bids/offers, which are posted and matched with the postedoffers/bids of other customers, resulting in confirmations of allexecuted trades, the data of which is then transmitted to affected tradeparties and entitled intermediaries, as well as to a contractedclearinghouse of the computerized trading exchange, and a reportingservice firm; facilitate, via the clearinghouse contracted by thecomputerized trading exchange, the posting and maintenance of requiredmargin levels based on attendant open trade positions; facilitate, viathe reporting service contracted by the computerized trading exchange,the reporting of trade activity conducted at the computerized tradingexchange including posted prices and volumes associated with open bidsand offers, executed and open trades, open interest, settled trades andhistorical data; based on confirmations received from applicable COI andunderlying executed trade data, compute C&F and other charges associatedwith each open and settled trade, and notify all affected parties oftheir respective amounts payable or receivable in connection therewith;and provide a platform for account and payment management, alerts andentitlements in connection with the payable or receivable amounts noteddirectly above.
 14. The method of claim 7, wherein the trade margining,marks-to-market, clearing and settlement functions are performed byqualified clearinghouses using at least one of an affiliate of thecomputerized trading exchange or an independently contractedclearinghouse, each being a COI in the web-based Cloud network.
 15. Themethod of claim 7, wherein the CADS Hybrid certificates specified,listed and traded provide holders with carbon credit rights tied to theunderlying mass of CADS expressed in terms of the CO2 equivalent of onetonne of CO2, rights that can be traded as part of a mutual listingagreement with one or more of the so-called “green exchanges,” includingthe Green Exchange (“GreenX”).
 16. The method of claim 15, wherein theunderlying mass of CADS is delineated into verifiable levels of reducedGW force black carbon soot, as well as accompanying SO₂/SOx emissionsserving as substantial cooling forces offsetting GHG and other GW forcesresiding in the atmosphere, with said levels verified by independentemissions tests approved by requisite regulatory bodies and independentscientific research findings.
 17. The method of claim 16, wherein theindependent emission test facilities compare baseline PM emissions ofthe subject diesel engine exhaust with the subsequent PM emissions ofthe same diesel engine subject fitted with an Attendant DECAT system,with the eliminated PM expressed in terms of grams per mile or kg formobile applications and pounds or kg per MMBtu for power generators andother stationary applications.
 18. The method of claim 7, wherein theglobal pollution control system uses a coordinating financing mechanismto coordinate the use and application of CADS Hybrids, as well as one ormore of the following: adjunct government policy tools; grants fromsovereign bodies; grants from global regulatory bodies; or loans fromentities dealing in concert with either of said sovereign or globalregulatory bodies.
 19. The method of claim 7, wherein: CADS Hybrids arelinked to sovereign and global regulatory environmental policiesemploying emission reduction credit and/or capped allowance trading(“Cap-and-Trade”) systems; and wherein at least one customer of thecomputerized trading exchange is a sovereign or global regulatory bodyin charge of maintaining pollution control systems in its respectivecountry, region or sphere; wherein at least one customer of thecomputerized trading exchange is an emissions bank qualified for tradingby said regulatory bodies and the computerized trading exchange.